John Adams

Great to to see the ongoing progress and promotion. Education and awareness being critical to continue to build trust and take-up of all the features and benefits now available with Australia's New (Real Time) Payments Platform. #PayID #PayTo #NPP #Payments #TransactionBanking Australian Payments Plus #realtimepayments #paymentsoptimisation

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As we work on developing a world-class #AI capability for the benefit of our customers, it’s important our people are ready to harness the transformational power of this tech. Providing an AI microlearning series for all our people is one way we are helping them better understand this area. It’s great to see so many of our people have shown interest this learning series that covers topics like #GenAI, deep learning and responsible AI. #AI #Innovation #CustomerExperience #LearningAndDevelopment #FutureOfWork #ResponsibleAI https://lnkd.in/gy_Z3FFX.

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One down, four more to go. Excited for the journey ahead towards the 'Google Cloud Data Analytics Certificate.' Stay tuned for more milestones! #DataAnalytics #GoogleCloud #ANZ #cloudskillsboost

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Superannuation compliance is one of the most overlooked areas in business. With changing regulations and complex payroll systems, it’s crucial to stay ahead. I invite you to join our upcoming webinar, "Uncovering the Hidden Compliance Risks in Superannuation," where we’ll dive deep into: - The most common superannuation compliance gaps businesses face - Key strategies and tools to prevent non-compliance - Why now is the time to act before small errors snowball into major risks If you’re in HR, payroll, or a compliance leadership role, this session will give you the insights and practical steps you need to protect your business. Register today 👉 https://lnkd.in/gyvK2ghR

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With the release of Joe Astons’ book on Qantas, and the recent ructions at WiseTech, there will no doubt be a new round of governance discussions on how boards can better deal with a "dominant" CEO.   Many of these ideas will be around more distance between management and board, and greater independence by directors.   I am about to make a suggestion (and it will run counter to convention) – that instead we should examine having more non-independent directors.   In a recent Harvard Business Review, leading Canadian academic Bryce Tingle, KC sets out the many benefits of having non-independent directors https://lnkd.in/guFnmbys   Having more insiders on the board, like senior executives (be it the CFO, COO or business unit heads), seems completely at odds with corporate governance. Yet, rather than entrenching CEO power, insider directors do the opposite. Tingle says: “In their capacity as directors, insiders become the CEO’s boss. They have unfettered and confidential access to the rest of the board. This actually makes them a rival power centre inside an organisation that the CEO must respect”.   Companies with insiders on the board are much less likely to be dominated by a powerful CEO personality, and they are much more likely to have the views of a wide range of groups in the company, represented in board discussions.   Inside directors bring advantages that are tough to find elsewhere. They are not dependent on the CEO for their information about the company and have a deep understanding of the company.   As I read Tingle’s research, I could not help but think of the strapline of Dr Strangelove - how I learned to stop worrying and love non-independence.

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Did you know?? In Australia, there are three main credit reporting agencies: Equifax (formerly known as Veda), Illion (which incorporates data from Dun & Bradstreet), and Experian. Each of these agencies collects and analyses financial information differently, which can result in three potentially different credit scores for an individual. It's important for individuals to consider checking their credit scores with all three agencies, especially when preparing for significant financial applications like loans or credit cards, as different lenders may use different agencies to assess creditworthiness. **This is for informational purposes only and is not deemed financial advice. For finance tips please visit www.moneysmart.gov.au #creditscore #creditreport #creditworthiness #bureaus #equifax #illion #experian #creditrepair Victoria Coster FCES Zarko Jokic

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A great article on the rise and rise of private credit in Australia, the rumblings for increased regulation and some painful buyer-beware stories https://lnkd.in/g6DAQTty #privatecredit

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We hear a lot about AI's positive impact on individual and organisational productivity but what about as a tool to combact the loneliness epidemic? I see the short term benefits but am wary of unintended consequences in the long term. AI companions can provide emotional support and help with loneliness, but they can't replace the genuine, unpredictable connections we have with real people. TLDR: 🛠️ Sumary: NYT Tech Columist Kevin Roose spent a month interacting with 18 A.I characters he created using AI Apps Nomi , Kindroid, Replika, Character.ai, Candy.ai and EVA 💡 Insight: AI can help combat loneliness and offer a form of support where human interaction is limited. 🤔 Key Takeaway: AI companions are useful tools for social practice and mental health support, but they shouldn't replace the real, human interactions that enrich our lives. ❓Have you tried any of these apps? ❓What are your thoughts on the use of AI Companions? ❓What comes next?

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Another great Mi3Australia article by Andrew Birmingham on the huge returns from Real-Time Decisioning and Next Best Action. "Real-time decisioning and next best action are especially relevant for banks because of how frequently their customers interact with them, the depth and richness of customer data, the breadth of banking products and the large number of engagement channels in play across inbound, outbound, digital and paid media," Avery told Mi3. The attraction, he says, is that decisioning leverages interaction context, intent, interaction history and customer data to calculate next best actions and customer journeys. "That helps orchestrate seamless, personalised and more relevant customer experiences across all channels (which typically have different siloed tech stacks)." According to Avery, "Decisioning enables banks to execute their customer-centric vision and influence every customer interaction in every channel ultimately delivering exceptional CX, increased revenue, reduced churn, higher NPS, greater loyalty and improved customer lifetime value." Thanks for the shout out!

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Organisations who are “reinvention-ready” are three times more likely to succeed at scaling high-value Gen AI use cases – this is according to a new report from Accenture that looks at how global companies are using Gen AI. Great to see NAB’s strategy and progress in this space highlighted as part of the report which is copied below. Everyone is talking about the potential for AI and Gen AI to reshape our lives and the way we ‘do business’. It’s exciting, yes, but NAB’s view is that we must remain focused on investing in the right areas and not just building ‘cool technology’ that does not meet our customers’ needs or expectations. We’ve implemented guardrails and have a long-term plan with the help of our people. After all, Gen AI will become part of their daily ‘tool kit’ so we must make sure they understand it and find it useful and effective. You can read the full report via NAB News: https://lnkd.in/g-5KjCZP https://lnkd.in/g5pPMkiC

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Discover how Australia’s small and medium businesses are doing more with less as we focus on the findings of the latest NAB SME Business Insights report.

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Data management professionals have various roles in the organisation. Make sure you understand what is expected from one, the DMBOK explains a lot. #CDMP #DMBOK

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Awesome to speak to the Future of Financial Services New Zealand conference on the economic environment and the ways firms can incorporate new technologies and AI into their operational processes to boost returns, reduce costs, improve competitiveness and increase productivity. The economic situation in New Zealand is dour right now but it will take more than just interest rate cuts to sustainably boost living standards. Westpac Institutional Bank Westpac New Zealand #FOFSNZ #FSTMedia #FinancialServices #EconomicOutlook #AI #HousingMarket

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The Australian Banking Association (ABA) lit a discussion about the Consumer Data Right (CDR) yesterday with the publication of a strategic review which called out poor customer uptake and high compliance costs. The AFR followed quoting a $1.5B cost estimate from the ABA report hours before delegates gathered for the CDR Summit in Sydney. I listened to panelists and chatted to delegates representing data holders, data recipients (both current and prospective) and other members of the CDR ecosystem across banking, fintech, energy and insurance. The large majority were enthusiastic about the potential of CDR, though some were frustrated with the lack of transparency over compliance dates. Reflecting on the day, my thoughts:- ·       $1.5B cost. No doubt legal, risk and compliance costs make up a component of this, but I also wonder how much of these costs can be attributed to data strategy, data quality, governance and addressing tech debt – all investments that not only support CDR compliance but also set banks up well to capitalise on other technical developments such as Digital Identity and AI. ·       There is a shift towards consent driven data enabled services amongst advanced economies. It is true uptake of CDR has been slow. But it is also true that there has been little consumer education on its existence. Ask the average person on the street about CDR and you are likely to get a blank stare. It seems unfair to expect consumers to embrace an initiative they know nothing about – complicated further by heightened concern over fraud and scams. The attached picture from Basiq’s presentation highlights a stark depiction of a user journey with / without CDR. ·       There was commentary relating to return on investment. It’s worth keeping in mind that the Consumer Data Right was designed to empower consumers with greater control over their data rather than increasing revenue for data holders. As our lives become increasingly digitised, so to does the risk of data misuse, as evidenced this week by the Human Rights Watch finding on the misuse of Australian child imagery in the Laion-5B Artificial Intelligence training data set. ·       There is always room for improvement. Banks have been making data available to business for years. Compared to bank feeds, CDR will be prohibitively complex for some. I often wonder how smaller financial institutions balance the cost of initiatives like this against other important obligations such as cyber security. Perhaps there should be a participation threshold for smaller data holders. It’s a healthy debate which I suspect will continue as legislation is mulled next month on extending the CDR. Whatever your view on the Consumer Data Right, it is clear data will play an increasingly important role in the digital economy. Thats why Endava has been discussing how to unlock the power of data with clients, by moving towards more flexible core systems that provide agility and better use of data assets. #openbanking

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The Australian Financial Review Super & Wealth insights continue: - Ann Sherry Chair Super Members Council, discussed tech skills on Super Boards & the small NED pool in Aus #techformemberbenefits - Simone Constant Commissioner ASIC, it’s not for us to say who is the right/wrong person on the Board, however, for those who are appointed - irrespective of how - we will hold them accountable to the fair expectations of members. Transparency and accountability is a must to meet expectations of members and regulatory requirements. - Scott Hartley CEO Insignia, commented that tech is old in the industry and we have to invest, there’s only so much service bandaids can do to deliver member services in a timely way. #techformemberbenefits Super Members Council ASIC Insignia Financial Mantel Group

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Great post here👍👍. Points to the dependency of AI models on good quality Data with contextual metadata for your business to get the right answer for the customer.

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